The launch of ApeChain has significantly impacted ApeCoin's price, which soared by 100%. This rise is driven by crypto users participating actively in staking pools and games that support the token.

ApeCoin Surge and ApeChain Impact

Following the launch of ApeChain, ApeCoin's price surged by 100%, reaching an RSI of 78. This indicates a high level of buying and selling activity for the token. However, despite this sharp rise, large holders of ApeCoin have begun selling their assets – the number of holders with 1-10 million APE decreased by 9 last month. This may indicate a lack of confidence among major investors in the sustainability of current prices.

Token Prospects and Support

Current market data suggests that ApeCoin may be overvalued, as its RSI rose from 35 to 78 this week. For continued growth, the token needs to break the $1.82 barrier and aim for $2.07; otherwise, its price could drop to support levels at $1.10 and $0.94. If the token falls below these levels, it may settle at $0.54, representing a 60% decrease from this week's price.

Analyst Predictions for 2024

Predictions for ApeCoin vary. Telegaon estimates an average token price of around $2.05 in 2024, with a maximum trading price of $3.19. Meanwhile, CoinCoidex predicts a 237.66% increase in the token's value, suggesting it could reach $5.01. The disparity in these forecasts highlights uncertainty about the token's future growth.

Despite the sharp increase after the launch of ApeChain, the future of ApeCoin remains uncertain. Analysts' predictions vary, and the market provides no clear signals regarding further growth potential for the token.